Ritholtz Wealth Management Buys 957 Shares of Lockheed Martin Co. (NYSE:LMT)

Ritholtz Wealth Management increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 16.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,727 shares of the aerospace company’s stock after acquiring an additional 957 shares during the period. Ritholtz Wealth Management’s holdings in Lockheed Martin were worth $3,932,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its stake in Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after purchasing an additional 31,545 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Lockheed Martin by 14.9% in the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after buying an additional 180,074 shares during the period. Dimensional Fund Advisors LP grew its position in Lockheed Martin by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after buying an additional 119,052 shares in the last quarter. Wulff Hansen & CO. increased its stake in Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after acquiring an additional 1,019,281 shares during the period. Finally, Capital Research Global Investors raised its holdings in Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after acquiring an additional 218,506 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on LMT. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. UBS Group boosted their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $581.77.

Lockheed Martin Stock Performance

NYSE:LMT traded up $6.68 during trading hours on Friday, reaching $604.17. The stock had a trading volume of 526,025 shares, compared to its average volume of 1,056,277. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $611.59. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a 50 day simple moving average of $572.03 and a 200 day simple moving average of $504.82. The stock has a market cap of $144.01 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same period last year, the company earned $6.73 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts forecast that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.74%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.

About Lockheed Martin

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.